Feeling bearish today... also taking a QTUM leveraged short trade. Even if the movement is corrective, I believe we´ll still have at least another leg down.
The messy correction seems to be over, and I believe we´re in a new leg to the downside. Partial targets also shown in the chart.
Bears have pushed price all the way down to green support, which survived the first attack. I am bearish and expect a break of this support. The chart shows my expected price action and I´ll short on pullbacks to the upside.
I'm working with 2 scenarios for Stellar, but at this moment there is definitely no clarity on the most probable path. Bullish: 1-5 Leading Diagonal Bearish: ABC correction I´m slightly biased to the downside, but not taking any trades just yet.
Over the past 12 months, Monero’s price has been relatively stagnant (current price is practically the same as 1 year ago), leading to a challenging analysis due to the prolonged sideways correction. As such, we must work with probabilities to better understand its potential movements. First Probability: Pullbacks usually reach a 50% retracement. Monero’s...
We had a false breakout to the downside from gray trendline support, but there was no follow-through from bulls. Price is again below this trendline, and today´s candle is showing a possible retest/rejection. Therefore, I´m keeping my higher probability scenario for new lower lows, targeting initially blue support.
I am reviewing the previous count, since price action is not in bulls´ favor. The first green resistance knocked price down, and we´ve also broken and retested the blue trendline. Short term, I expect at least another thest of 1.443 low, and I´m only bullish above 1.80.
Correction is still ongoing, but the wave count hasn´t been invalidated. I don´t believe the downtrend is over, but as long as we stay above wave 1 (at 19.17), I´m keeping this count. We would need solid bullish price action to consider a long trade. Initial barriers are the green descending trendline and resistance at 32.00.
I now have a primary bearish count for KAVA, since price action is compatible with an expanded flat (black ABC). We have 2 major channel boundaries (gray zones), and a mid-channel resistance (green zone). A break of the channel support could lead us to new lower lows. Just be mindful of false breaks (I´d wait for a break / retest before shorting).
We didn´t get the breakout from the last post, so the count was invalidated. Recent movement seems to be a bear flag, with the bottom channel broken a few days ago. Higher probability is for another best of recent low at 0.054.
Gray support was broken in the recent crypto selloff, but the invalidation point hasn´t yet been reached. Therefore, I´m keeping the current count for the time being. I won´t consider shorts unless this count is invalidated, and will only go long above gray resistance. Remember: Don´t trade based on subjective wave counts.... Trade price action supported by...
The upside expected from the previous post played out perfectly, with a test and break of green 0.57 resistance. This resistance, now support, is holding price so far, and we have a valid count for green wave IV . As long as green wave I stays intact, I´m bullish for new short term highs.
At this moment I see no reason to buy BEL. The rising channel has the characteristics of a bear flag, and there is a possible Head and Shoulders pattern being formed. A break of the neckline would give is a high probability target in the next gray support at 0.52-ish.
In the previous thread, the divergence effectively signaled the end of the upside (blue wave 5). We´re now in full pullback mode, and I expect price to reach the yellow box. A reaction from this zone could be a bullish indicator, but let´s wait for clear price action before any moves.
We had a false breakout above green resistance, which was quickly brought down by bears. Strong support at 5.70-5.80 is holding the price for the time being, and this is crucial for bullish hopes. There are several wave scenarios that could be applied to this, but for now I'm keeping my previous count, with an adjustment for blue wave 2/B. Invalidates below 5.150.
In mid-March I posted my primary count for Bitcoin, which is bearish, considering that we are in an expanded flat which would take us down to the 15k level or lower. We even have a classic false breakout above massive 29k resistance, to catch some late FOMOers. So what´s next? First of all, remember that Elliott Waves are not magic predictions, and they must be...
Following up on my last ATOM post, the yellow zone is serving as solid support. Price has broken the top channel trendline and has just retested it. If we get a bullish follow-through, we may see an impulsive wave all the way to $20.
We had a very solid upside movement, as expected (see related post), and have been in correction mode for the last couple of days. Despite the selloff we had in the last 24 hours, the bullish wave count is still valid. I'll only reconsider the count if the break below 316.8 (green wave 1).